The Timberlake-Jackson Wardrobe Co. has 11.7 percent coupon bonds on the market with eleven years left to maturity. The bonds make annual payments.

Required:

If the bond currently sells for $1,153.60, what is its YTM?(Do not include the percent sign (%).Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).)

Yield to maturity

%

rev: 05-02-2011